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QS4-4 The following are common categories on a classified balance sheet.

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The following are common categories on a classified balance sheet.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities

For each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.

1. Trademarks
2. Accounts receivable
3. Land not currently used in operations
4. Notes payable (due in three years)
5. Cash
6. Wages payable
7. Store equipment
8. Accounts payable

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